The answer is "Cost-benefit approach".

Here's why:

1. International Financial Reporting Standards (IFRS), Generally Accepted Accounting Principles (GAAP), and Australian Accounting Standards are all sets of accounting standards used in financial accounting. They provide guidelines on how financial transactions and events should be recorded and reported.

2. Management accounting, on the other hand, is concerned with providing information to managers for use within the organization. It helps managers make decisions about the day-to-day operations of a business.

3. The cost-benefit approach is a concept often used in management accounting. It involves comparing the costs and benefits of a decision as a basis for making that decision. This approach helps managers to make decisions that will maximize the net benefits for the organization.

Therefore, the cost-benefit approach is the one that relates to management accounting.

Question

The answer is "Cost-benefit approach".

Here's why:

1. International Financial Reporting Standards (IFRS), Generally Accepted Accounting Principles (GAAP), and Australian Accounting Standards are all sets of accounting standards used in financial accounting. They provide guidelines on how financial transactions and events should be recorded and reported.

2. Management accounting, on the other hand, is concerned with providing information to managers for use within the organization. It helps managers make decisions about the day-to-day operations of a business.

3. The cost-benefit approach is a concept often used in management accounting. It involves comparing the costs and benefits of a decision as a basis for making that decision. This approach helps managers to make decisions that will maximize the net benefits for the organization.

Therefore, the cost-benefit approach is the one that relates to management accounting.

Knowee AI · Accepted Answer

The answer is "Cost-benefit approach".

Here's why:

1. International Financial Reporting Standards (IFRS), Generally Accepted Accounting Principles (GAAP), and Australian Accounting Standards are all sets of accounting standards used in financial accounting. They provide guidelines on how financial transactions and events should be recorded and reported.

2. Management accounting, on the other hand, is concerned with providing information to managers for use within the organization. It helps managers make decisions about the day-to-day operations of a business.

3. The cost-benefit approach is a concept often used in management accounting. It involves comparing the costs and benefits of a decision as a basis for making that decision. This approach helps managers to make decisions that will maximize the net benefits for the organization.

Therefore, the cost-benefit approach is the one that relates to management accounting.

Which one of the following relates to management accounting:Group of answer choicesInternational financial reporting standardsGenerally accepted accounting principlesAustralian accounting standardsCost-benefit approach

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